The average price of gasoline across Western Pennsylvania is a penny higher this week at $3.065 per gallon, according to AAA East Central’s Gas Price Report.
In comparison, the price for the week of March 16 in 2020 was $2.489.
A release from AAA notes that, following last month’s winter storm in Texas, the national gas price average has jumped nearly 40 cents to $2.86. Prices will likely continue to increase this week, especially following the Energy Information Administration’s (EIA) latest weekly reports showing a second week of major decline in gasoline stocks and a substantial increase in U.S. demand.
The price in Bradford is $3.097; Erie is $3.075; Brookville $3.084; DuBois $3.089; Meadville $3.086; Oil City $3.097; Pittsburgh $3.072 and Warren $3.099.
Amid tightening supply and increasing demand, the good news is that the price of crude, which accounts for more than half of the price at the pump, showed signs of stability on the week fluctuating between $64–$66/barrels. If crude sustains at this level, especially as refinery utilization increases, major increases at the pump will likely subside.
Americans are paying, on average, 14% more to fill-up compared to February. On the week, the national average is nine cents more expensive with 20 states seeing double-digit jumps.